Progress in Lending recently posed questions to Reid Smeda Sr., president of Compliance Systems, Inc. (CSi). Smeda has more than 20 years of banking experience, serving in senior roles as an attorney, lender, and business leader for national and international financial institutions. Smeda discusses how compliant systems in place today have to be “data-obsessed” so they are equipped to gather, analyze, disclose, and retain the many, many, many pieces of data that “define the transaction.”
Q: How long has CSi been compliantly documenting financial transactions and what are some of the traits that have lead to CSi’s success?
REID SMEDA: For over 25 years, CSi has specialized in compliantly documenting financial transactions between financial institutions and their customers.During this time, CSi’s document solutions have become the “go-to”choice for transaction-level risk management — for, Consumer Lending, Home Equity Lending, Commercial Lending, Agricultural Lending, Mortgage Lending, Deposit Accounts, Individual Retirement Accounts, Education Savings Accounts and Health Savings Accounts.
CSi has earned a reputation for delivering remarkable transactions and expertise as an integrated component of loan origination systems. As a trusted partner, CSi documents transactions compliantly, minimizes the applicable enterprise-wide risks, and reduces resource expenditures so that financial institutions can focus on their business and their bottom lines. As an independent American-owned company, CSi proudly assists financial institutions in every state to meet the consistently increasing complexities of the U.S. and state financial systems.
CSi understands the importance of continuously monitoring industry changes and trends that impact financial institutions. Our compliance professionals are constantly on alert for changes from a variety of sources (legislation, case law, administrative rules, regulations, industry best practices, and other governing authorities) to provide financial institutions with the most up-to-date products and information about transactional risks. CSi combines its quarter century of industry-leading financial transaction experience with one-of-a-kind, thought leading technology solutions.
Read the full article here: Discussing the New Face of Risk Mitigation